In global market, Chinese enterprises are being subjected to national security reviews increasingly implemented by western countries. Because the meaning of national security is vague, the application of these reviews is far beyond the purpose of ensuring national security, reflecting a protectionist tendency, seriously restricting Chinese enterprises’ investment, operation and expansion activities overseas. National security reviews are endangering China’s investment interests abroad, and has become investment barriers aimed at curbing China’s industrial upgrading, technological progress and market influence. Considering that China has contracted international investment agreements with most western countries that implement investment barriers, and has provided investment arbitration as disputes settlement mechanism, Chinese enterprises can challenge national security reviews of the host country through investment arbitration. Chinese enterprises could claim right according to investment protection clauses in the international investment agreements to restrict the host country’s protectionist policies.